Henderson's EUR 419 mln Indirect Property Fund Europe (HIP) has made its first investment in the UK with the acquisition of units in two funds for a total EUR 23.5 mln. A sum of EUR 11.7 mln has been placed in the Standard Life Core UK Shopping Centre Trust and EUR 11.8 mln in the Unite UK Student Accommodation Fund.

'These latest investments represent our current views on the UK market for which we are forecasting solid index linked income returns in the student accommodation sector and defensive income streams via prime, dominant shopping centres,' said HIP fund manager Nick Evans.

HIP, one of the largest fund of funds in the market, has recently received an EUR 8.25 mln equity subscription from a UK pension fund. It has an eventual target size of EUR 1 bn.